Nikkei ends lower on higher yields

By TOKYO: Japan's Nikkei share average ended lower on Tuesday, dragged lower by technology stocks as investors weighed rising bond yields and persistent inflation concerns that clouded the outlook for growth shares. The Nikkei fell 1.3 percent to 64,075.42, and the broader Topix slipped 1.43 percent to 4,009.21. The tech-heavy Nasdaq Composite gained 1 percent overnight as investors returned to the chip sector and other AI-related stocks after last week's bruising selloff, while awaiting key corporate earnings reports. Nasdaq futures were down 0.19 percent in Asian trading. In Japan, AI investor SoftBank Group fell 6 percent, making it the biggest drag on the Nikkei. Chip-testing equipment maker Advantest ended down 1.68 percent. Uniqlo-brand owner Fast Retailing rose 2.04 percent to provide the biggest support for the Nikkei. The Topix value index lost 1.98 percent, while the growth index fell 0.84 percent. Of more than 1,500 stocks trading on the Tokyo Stock Exchange's prime market, 76 percent fell, 21 percent rose and 2 percent traded flat.